Baladna achieves net profit of QR 26 million in Q1 2022 – The Peninsula

Baladna achieves net profit of QR 26 million in Q1 2022 – The Peninsula

Doha: Baladna Q.P.S.C. (Baladna) yesterday announced its quarterly results for the three months period ended March 31, 2022 (Q1 2022). Following its strong operational performance in the year 2021, Baladna recorded a revenue of QR 239 million in Q1 2022 which is 31% growth compared to same period last year. Net

Profit has reached QR 26 million, a decline of 41% compared to last year same period as a result of higher global commodity prices specially feed, raw material and packaging materials. Baladna has submitted the request to Ministry for increasing the selling prices and waiting for the approval.

In order to mitigate inflationary concerns, Baladna focused on increasing sale volumes through increasing its market share in most of the categories and focusing more on Horeca channels.

Furthermore, Baladna enhanced operational efficiencies, in particular, managing its herd, resulting in a higher milk yield of 39.3 liters per day per cow in Q1 2022 compared to 38.4 liters in Q1 2021. Additionally, efficiencies in the manufacturing process, reduction in sales wastage through improved controls and systems as well as cost control of overheads.

Baladna plans to continue on pursuing value accretive growth opportunities in the future. The Board of Directors had previously approved plans to